Could XRP Price Break $0.5 After Smashing Through Recent Key Resistance?

  • Darryn Pollock
    🤷 Opinions

    Ripple’s XRP token has smashed👊 ↗️ through another key resistance barrier in the latest rally and could be set to reach $0.50 at this 👉 📉.rate.


Could XRP Price Break $0.5 After Smashing Through Recent Key Resistance?
Contents

The recent Bitcoin rally that has seen the major cryptocurrency creep up towards the $9,000 mark has also had a positive effect on a number of other top 20 cryptocurrencies by market capitalisation.

One of these is XRP, which has managed to smash through a key resistance marker and now looks set to continue pushing its price higher towards an important psychological milestone, $0.50.

XRP has seen a 10% price surge over the past 24 hours, causing the cryptocurrency to rise above the $0.40 level to where it currently trades at $0.428. And, in the last 30 days, the cryptocurrency has managed to grow by 42 percent indicating a lot more bullish potential.

Aiming for half a dollar

XRP, despite being the best performing cryptocurrency in the top echelons of the market in 2017, has not had as a successful 2019. The Ripple owned cryptocurrency has struggled to make big gains while other tokens have shone, however, that could be changing at the moment.

The new ceiling that XRP is aiming at is a major one, and a psychologically big goal to reach. If XRP can be worth $0.50, it would indicate a good amount of gains, as well a noteworthy new floor for it to try and stay above.

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Every Ripple Price Prediction 2019 Says the Same Thing: XRP Price Might Reach 10$

Every Ripple Price Prediction 2019 Says the Same Thing: XRP Price Might Reach 10$

For XRP to increase and reach the $0.5 target level, the cryptocurrency would still need to rise by another 18% from the current price. The last time that the cryptocurrency was at the $0.50 level was during November 2018 before a massive sell off caused a huge market wipeout.

Short term bullish

Because XRP has crossed the $0.40 resistance level with relative ease, and has stayed comfortably above it, there is a good reason to be short term bullish on the Ripple asset. However, if its next move was downwards, and down towards $0.35, things would then take a very bearish path.

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The bullish push continues above $0.43, and it can expected that there will also be higher resistance above to be located at $0.4376, $0.44 and $0.46. However, a lot of this ability to push through these resistances will also depend on Bitcoin as it leads the way in the cryptocurrency market currently.

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About the author

Darryn Pollock is an award winning  journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach.  He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.

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Ripple’s XRP Price Struggling — Is This the End as Max Keiser Predicts Facebook Coin Will Take Over?

  • Darryn Pollock
    🤷 Opinions

    ❌👊 XRP’s price has failed to kick on — is there too much competition as Max Keiser predicts Facebook Coin to make it obsolete?💁‍♂️⚒


Ripple’s XRP Price Struggling — Is This the End as Max Keiser Predicts Facebook Coin Will Take Over?
Contents

While the cryptocurrency markets have been down of late, there has been very little to be excited about from a Ripple point of view. The company’s XRP token has failed to kick on during the cryptocurrency spring, and maybe it is down to losing its niche.

There is a bigger and bigger drive for coins that accomplish what XRP does, and despite being one of the first, there is major competition emerging from big companies like JPMorgan, as well as now Facebook.

Max Keiser, a well-known cryptocurrency commentator, has said he believes Facebook’s hugely hyped GlobalCoin will do away with the need for hundreds of altcoins, including XRP. It remains to be seen if GlobalCoin will hit the same niche, but it does feel like it has a chance.

A cryptocurrency killer

There are hundreds of cryptocurrencies currently on the market, and not many would argue against the fact that many are not needed and a bit of a waste of space. There are niches which have a lot of competition, like the smart contract blockchains of Ethereum, Cardano, NEO, etc.

Ripple’s XRP solution to cross-border banking payments is a well known cryptocurrency, but is still just a startup and a minnow in the eyes of JPMorgan and Facebook.

Keiser is a big believer in Bitcoin, but not as fond of the massive altcoin market behind it.

Should XRP be worried?

Keiser has a point about the power of a coin backed a company of the magnitude of Facebook, but he may be stretching things a little with GlobalCoin’s reach.

XRP’s niche is, and always has been, towards banks and making partnerships there. On the other hand, GlobalCoin will be a broad token, but one targeted at individuals rather than businesses.

Questions continue to be asked about the interoperability of blockchains, and perhaps that is where this arms race will be headed. XRP can be a banking solution, and GlobalCoin one for the people, but there should be a drive to be able to get them to work seamlessly together.

Cover image via www.freepik.com
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About the author

Darryn Pollock is an award winning  journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach.  He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.

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